Google launches UPI-based Tez payments app in India

Tez payments app allows users to link their bank accounts to send money directly from their account or receive money to their account. Users will also be able to pay for goods online and in physical outlets.ETtech | September 18, 2017, 13:04 IST

The app allows users to link their bank accounts to send money directly from their account or receive money to their account. Users will also be able to pay for goods online and in physical outlets.

Google has partnered with four banks - Axis Bank, HDFC Bank, ICICI Bank and SBI Bank for this service. The app is live with three banks at launch with SBI Bank joining soon.

"Using NPCI's Unified Payment Interface, money transfers are simple and secure with Tez," Google says in its app description. Finance Minister Arun Jaitley launched the app in the National Capital on Monday. The app is available in 8 Indian languages and works with 55 banks.

Caesar Sengupta, VP, Next Billion Users, Google said that Tez is Google's made for India payment product and payments will be an area where India will leapfrog the West. "Tez has been made for India and will make payments as simple as cash," said Sengupta.

Google said businesses will be able to request for payments from users directly through TEZ app, through a WhatsApp-like chat interface. The company has partnered online bus ticketing service RedBus, PVR Cinemas, Domino's Pizza, Dish TV and Jet Airways as launch partners.

The app also has a 'cash mode' that allows users to make secure payments without sharing their details like phone number or bank account. It uses audio QR i.e. ultrasound wave between microphone and speaker of two phones to enable the payment between 2 nearby phones.

Each transaction is secured with the user's UPI PIN and the app is secured with a Google PIN or screen lock methods such as fingerprint, the company said.

Sengupta added that Google is also working on integrating credit and debit card payments through Tez and will enable it later this year.